NEWARK, Del, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The global tagatose market is valued at US$ 155.0 million in 2023 and is anticipated to reach US$ 243.0 million by 2033. Over the assessment period, global tagatose demand is likely to increase at a CAGR of 4.6%.
Growing consumer interest in seeking alternatives to traditional sugar is a crucial factor expected to drive demand for tagatose and boost market growth. Increasing diabetes and other health issues related to sugar consumption will also fuel tagatose demand during the forecast period.
Tagatose is becoming an ideal alternative to sugar and other artificial sweeteners. This natural and low-calorie sweetener is widely used in food & beverages and pharmaceutical sectors, thereby driving demand in the market.
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Innovative marketing strategies employed by crucial tagatose manufacturers are expected to boost the market by 2033. Tagatose manufacturers are investing in research and development to increase their brand preference and sales. This includes launching new tagatose-based formulations or blends that meet specific consumer demands.
Top players are innovating to build a strong brand image by offering unique solutions to consumers. These novel product launches and production processes will propel the tagatose market forward.
The market will have additional growth opportunities as a result of globalization and the creation of new kinds. The demand for diverse and natural ingredients is rising as the world becomes a more interconnected community and consumers embrace other cultures' culinary traditions more readily.
Tagatose's taste and texture are similar to sugar, making it versatile in several food applications like bakery and confectionery, dairy products, beverages, and personal care. This contributes to its popularity and is expected to boost the sales of tagatose.
Key Takeaways from the Tagatose Report:
- The global tagatose market is expected to reach a valuation of US$ 243 million by 2033.
- Global demand for tagatose is likely to soar at 4.6% CAGR over the forecast period.
- Based on form, powder tagatose segment is poised to total US$ 158.9 million in 2033.
- By application, food and beverage segment is set to thrive at 5.1% CAGR through 2033.
- South Asia is projected to hold a prominent value share of 28.9% in the global market by 2033.
- The United States tagatose market value is expected to reach US$ 32.1 million by 2033.
- India market is estimated to witness a value CAGR of 4.1% during the projection period.
“The rising demand for tagatose demonstrates a shift in consumer preferences toward natural, low-calorie, and diabetic-friendly sweeteners. Further, these sweeteners provide opportunities for manufacturers to explore new production processes which are cost-effective.” – says a lead analyst at Future Market Insights (FMI)
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Who is Winning?
CJ Cheiljedang Corporation, Damhert Nutrition NV, Bonumose LLC, Silver Fern, Sukrin, Arla Foods, Santa Cruz Biotechnology, Inc., Zhejiang Yixin Pharmaceutical Co., Ltd., Living Fuel, Inc., and Tokyo Chemical Industry Co., Ltd. (TCI) are key tagatose manufacturers listed in the report.
Key players are focusing on expanding their portfolios by unveiling new products. They also use strategies such as partnerships, distribution agreements, advertisements, acquisitions, and mergers to stay relevant in the market.
For instance,
- In August 2023, Arla Foods Ingredients partnered with Novozymes to create improved protein ingredients through precision fermentation.
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Tagatose Market Outlook by Category
By Form:
- Liquid
- Powder
By Application:
- Food and Beverage
- Confectionery
- Dairy and Desserts
- Snacks
- Beverages
- Pharmaceuticals
- Personal Care
- Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About the Food and Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the food and beverages team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food and beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s Extensive Coverage in the Food and Beverage Domain:
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- Glucose Syrup Market - Global industry segment analysis, regional outlook, share, growth; glucose syrup market forecast 2017 to 2027 by future market insights.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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